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Fannie Mae's economists have revised a lot of their forecast from last month as new data has come in. The outlook for the 2021 GDP has been revised modestly to 7.1 percent from 7.0 percent on a Q4-over-Q4 basis. The revision was due to data indicating stronger second quarter growth in personal consumption which they expect was driven heavily by inventory restocking and will decelerate significantly in the second half of the year. They also moved the 2022 growth forecast down one-tenth to 2.7 percent and revised upward their inflation forecast. As did the Federal Reserve on Wednesday, Fannie Mae says much of the recent uptick in inflation was transitory , but price pressures are likely to last into 2022. Lagging effects stemming from recent rapid house price growth will generate upwrd pressure
Rob Chrisman
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Today I head to Orlando for the Mortgage Bankers Association of Florida 2021 Secondary and Convention (approaching 250 registrants!) The live and in-person events are definitely increasing as we move through 2021. The focus on the first portions of t... (read more)
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Housing News
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Fannie Mae's economists have revised a lot of their forecast from last month as new data has come in. The outlook for the 2021 GDP has been revised modestly to 7.1 percent from 7.0 percent on a Q4-over-Q4 basis. The revision was due to data indicatin... (read more)
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Housing News
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Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally ... (read more)
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